We created a little cartoon starring an everyday Joe, who in this case, happens to be named Brad. Sorry Joe, haha. Brad's journey is typical of many people we've spoken with over the years. It's so common in fact, that the story makes the perfect case in demonstrating why Trade Vitality is the best solution for MAP monitoring. We'd love to hear what you think. You can tell us here.
Maybe you are like Brad. He owns ABC Products and is the company's biggest cheerleader. He works hard to offer great products at a fair price and backs it up with fantastic service.
DISCOUNTERS SLASH PRICES
Unfortunately, he faced an onslaught of discounters online who slashed prices on his products. To gain control of the situation, he started a Minimum Advertised Price (MAP) policy. But he was so busy running his business and taking care of customers, he didn't have time to enforce the policy. As a result, things got worse:
Sales went down.
Retailers weren't happy with their shrinking profits. Sellers are already working on thin margins, so when rapid discounting shaved them down even more, they weren't pleased.
His brand equity started shrinking, as consumers began to think of him as a "discount brand." Brand equity is an elusive but vital quality to keep your business healthy. As an example, several vibrant businesses in the motorsports industry that turned to discounting during the economic crash didn't survive, while those with MAP policies survived and thrived.
IDENTIFY MAP POLICY BREAKERS
A friend in the business told Brad about Trade Vitality. The software allowed him to figure out where his products were sold and at what price. He could easily and rapidly identify online sellers who were skirting his MAP policy and contact them. Once logged into the Trade Vitality dash, Brad could monitor and manage all this activity from his personalized dashboard.
The result? It wasn't long before he was able to:
Reduce MAP violations. Brad put a lot of thought and care into creating his MAP policy -- he knew it was fair and effective. So he wasn't afraid to part ways with sellers who constantly violated his policy.
Decrease complaints. Because Trade Vitality allows sellers to protect their profit margins, sellers have the confidence to make bigger investments in Brad's product lines. Complaints are natural and will always be a part of business, especially if sellers see others breaking your policy with no consequences. Trade Vitality tells you just what to say when you communicate with violators.
Save time and money. The MAP monitoring process is especially onerous. Trade Vitality takes on the tedious tasks of searching your major online marketplaces, saving evidence of violations, creating emails to send to sellers, keeping track of everything, and following up systematically.
To learn more about how Trade Vitality can help reduce your MAP pricing violations, visit TradeVitality.com to start a free trial today.
Get actionable steps on how to monitor and enforce your MAP policy: